Or should I title this article, "Grasping at Straws: The Final Saga?"  According to all the news wires, plus a PR release from our own UAL Corporation, United Airlines will continue to pursue its proposed $4.3 billion takeover of US Airways until the August 1 deadline.

This time it's US Airways that's wasting everyone's time.  You see, United Airlines had already proposed to US Airways that this merger be dumped before the agreed walk-away date of August 1st, but US Airways (a la Steven Wolf) rejected the idea.  Even though the US Airways 'Chairman' had just told all his employees that that the deal was no longer an option!  Perhaps he had problems getting UAL to hand over the $50 million?  Perhaps United's early termination proposal stunk?  Perhaps the big bad Wolf was afraid of being sued by US Airways shareholders that wouldn't be happy until he walked to the ends of the earth to get $60.00 a share?  Who knows?

Remember that under the original terms of the deal, United is entitled to walk away from it on Aug. 1, so long as they pay a $50 million breakup fee.

So now this merger fiasco must be strung along until the U.S. Department of Justice makes a final decision on the proposal---on August 1st.  In other words, it seems that US Airways (again, a la Steven Wolf) needs to hear that the merger's over from the DOJ, and not from UAL.  It's like finding a half decomposed body in a back alley, but having to wait until the coroner officially declares the person 'dead'.  Or maybe I'm just not 'getting it'!

"In keeping with its obligations under the merger agreement, UAL Corporation will continue to pursue the transaction,'' United Airlines said in its PR release.  They stated that they will be "ready to address additional questions DOJ and the state attorneys general might have."

No big deal...just another 21 days.  This merger is dead.  The only change is that our chilled champagne will get a little colder sitting around until August 1st.  Again, no big deal.